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Kiwi mine developer NTL has taken 100% ownership of the Rahu gold project, immediately north of its Talisman mine in the Coromandel region, after buying out former 80% JV partner Newcrest Mining.The deal comes less than 2 years after NZ authorities stripped NTL of the Rahu exploration permits it had held for 19 years. NTL joined new permit holder Newcrest in a JV in May 2016.It now plans fast-track exploration of drill-ready targets in Rahu's mineralisation zone, an extension of the Talisman gold-bearing veins.

Australia’s 2016/17 year (FY17) gold production continued its slow almost 2.5% upward trend on the previous year to 299t (9.6Moz), worth around $A16B. according to Melbourne-based gold mining consultants Surbiton Associates. June qtr (Q4 17) output was up 5% to 75t from the rain-affected Mar 2017 qtr (Q3 17).However, Surbiton director Dr Sandra Close warns there is a real concern in the gold sector that higher royalties may be imposed, which would have negative economic consequences, undermine confidence and discourage investment.

Australian No 1 gold producer Newcrest posted a 22% increase in underlying profit to $US394M for the year to end-June (FY17), from $323M a year earlier despite the impact of the mid-April seismic event that interrupted production at its Cadia East underground operations in NSW.Operating cash flow improved 18% to $1.47M ($1.24M) on revenue of $3.48B ($3.3B).A final dividend of 7.5cps (70% franked) takes annual return to 15c. MD-CEO Sandeep Biswas says Newcrest has adopted a dividend policy of at least 10-30% of free cash-flow, and minimum 15c.

Australian-based explorer Oro Verde will return its focus to expanding the Topacio gold project in SE Nicaragua after major Newcrest pulled out of its exploration funding deal.Newcrest agreed in Nov 2015 to spend up to $A11M over about 5 years searching for a multi-million ounce resource to earn 75% interest in the project, but has terminated the deal following recent diamond drilling at the Rebeca target.MD Trevor Woolfe says Oro Verde will now follow-up high grade targets around Topacio's main 340,000oz resource where recent trenching returned a best 53.1g/t.

Newcrest has sustained a 2.4% fall in gold production to 2.38Moz for the year to end-June (FY17) after the mid-April earth tremor that halted production at its Cadia East underground operations in NSW. Copper production increased 1% to 84,0000t.The disruption cut Q4 output by Australia's largest gold producer by 7.8% to 84,000t, and Newcrest said Cadia underground production would continue below pre-seismic event levels through the Sept qtr.Group AISC was also affected, rising 3.3% to $US787/oz.

Gold major Newcrest has set up another exploration alliance, this time with West Australian explorer Encounter to seek camp-scale exploration and potential production opportunities over an agreed alliance area in the state's north.It will fund up to $A500,000 over a year, with Encounter managing project generation for future 50-50 JVs. The agreement excludes the companies' existing interests and specific areas such as the Telfer mine vicinity.

More than three months after the earth tremor that halted underground mining at its Cadia East mine in NSW, Australian gold miner Newcrest has resumed production at Panel Cave 2 for the first time after a 3-week "test and response" exercise that drew 480,000t of ore while closely monitoring for seismic activity.Newcrest says Panel Cave 1 is still undergoing remediation and ground support upgrades, with mining expected to resume in the Sept qtr.

Newcrest has begun ore extraction from Panel Cave 2 at its Cadia East mine in NSW, Australia for the first time since it was hit by an earth tremor two months ago.The work is being done in what is expected to be a 2-4 week testing phase following the completion of remediation and upgrade work, and the prohibition notice by the state regulator has been lifted subject to compliance with the company's remediation and restart plans for PC1 and PC2.